There are a number of key small business challenges which recur over and over in business.

As every small business knows, the reality is that there are tonnes of issues facing them on a daily business. However, we have focused on two of those, so that you can take definite action on and set out ways to overcome them.

1. Cash Flow Issues

Money problems, in their various forms, are top of most lists of small business challenges. This can include issues such as clients stalling payments, unexpected outgoings as well as outstanding bills that need to be paid.

small business challenges

Using online invoices and automated reminders is a powerful way to persuade clients to part with money quickly and efficiently. Invoicing software, such as Grow in Cloud, provides customised invoice templates and can accept payments online as well as automatically charge clients upon booking.

2. Tiredness

It’s tempting to try to do everything if you’re a small business owner. In fact those who have left full time work to start up their own business, have found they are actually working more hours than before! One of the main small business challenges faced.

However, long hours add pressure. Fatigue, one of the most commonly overlooked small business challenges, can leave you disorganised, forgetful and cranky!

You end up not paying as much attention to your family and even clients. This is where you could start making mistakes. Small business owners have to pace themselves. This includes prioritising and delegating.

Prioritising And Delegating

small business challenges

Start by identifying business tasks that don’t require your expertise, such as social media posting, emailing reminders, making/scheduling appointments. Once you have identified these, take on an assistant, even part-time, to help out. There are many virtual assistants out there that can help. Check out our blog post on how virtual assistants can help you in business.

You could also consider delegating tasks that are outside your skill set to specialists, such as accountants or legal experts.

If you have budget constraints and cannot afford an assistant at the moment, you could look into using a software to automate simple functions. For social media posting you could use tools like Hootsuite. For all other business admin tasks, you could use “all-in-one business management software”, such as Grow in Cloud.

small business challenges

With this tool, clients could make/schedule appointments (without emailing each other back and forth) and be sent automated appointment reminders via SMS and/or email.

small business challenges

It’s important to get on top of challenges. Taking time out is critical for your health and well being, not to mention family and client relationships. Get into the habit of segmenting your day; analyse when and how you work best, the time you’d like to put into leisure or family. Then create schedules that identify key activities and how long they’re likely to take.

Overcoming the main small business challenges involves the following key actions:

  • Use software to manage your cash flow and keep money rolling in
  • Delegate, automate and set aside time for yourself
  • Target your most profitable customers to maximise your returns
  • Work hard to create employee satisfaction
  • Ruthlessly cut back your overheads
  • Keep your finger firmly on the pulse of your sector

To try a free 30 day trial of Grow in Cloud and see how we can help you reduce some of your small business challenges, please sign up here.

Some Related Small Business Blog Posts

15 Productivity Tools To Help Small Businesses

5 Ways No Shows Affect Service Based Businesses

Why You Should Automate Your Business Processes

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